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# tax

12 posts in `tax` tag

Exciting Update for NSS Investors! The Section 194EE Exemption Renders 80CCA Withdrawals Free from Tax.

Recent updates clarify that NSS withdrawals associated with Section 80CCA deductions are exempt from TDS under Section 194EE. Investors can receive the complete principal amount without tax, with only the interest being subject to taxation.

The deadline for linking PAN and Aadhaar is now extended to December 31st, 2025

The deadline for linking PAN and Aadhaar has been extended by the Indian government to December 31, 2025, for applications that are filed prior to October 1, 2024. Not adhering to this requirement could lead to the PAN becoming inactive and affect financial transactions.
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GST

Important Update: IRN Generation to Become Case-Insensitive from June 1, 2025

The GSTN requires that starting June 1, 2025, IRN generation for invoices be case-insensitive, which will involve converting all invoice numbers to uppercase to avoid duplication. Companies need to adjust their systems accordingly to ensure easier compliance with this new requirement.

TDS Rates for FY 2025-26: A Comprehensive Guide by Section with Threshold Limits

Detailed handbook on TDS rates for the financial year 2025-26 addressing Sections 194A (interest income), 194C (contractual payments), 194I (rental payments), 194J (professional services), and 194Q (purchase of goods). Contains information on threshold limits and requirements for PAN.

TDS Deducted is not equal to TDS Credit? How a mistake under Section 194IB led to a loss of 36,000 for this landlord.

An actual situation arose where the tenant incorrectly used a 5% TDS rate under Section 194I instead of the 2% rate under Section 194IB on the rent, leading to a 36,000 discrepancy in the credit shown on the landlord's 26AS. Discover the steps to rectify the issue for both parties involved.

Updated Capital Gains Tax 2024: Significant Modifications, Rates & Proper Filing of ITR

The Indian government has updated the capital gains tax rates for equity shares and mutual funds, effective from July 23, 2024. Short-term capital gains (STCG) are now taxed at 20% (an increase from the previous 15%), while long-term capital gains (LTCG) are now taxed at 12.5% (up from 10%). Discover how to file your Income Tax Return (ITR) with a date-wise breakdown, the responsibilities of brokers, and tips for saving on taxes.

Linking Aadhaar and PAN: Find Out If This Recent Regulation Impacts You

Comprehensive guide to the latest Aadhaar-PAN linking regulations for PANs obtained through Aadhaar Enrolment ID. Includes compliance obligations, three methods for linking, repercussions of non-compliance, and frequently asked questions for taxpayers.

Regulatory & Tax Compliance Calendar for FY 2025-26: Important Due Dates

A detailed month-by-month overview of statutory deadlines for Income Tax, GST, TDS, PF, ESI, and ROC submissions in the fiscal year 2025-26 (April 2025–March 2026) to guarantee compliance and prevent penalties.

143(1) Intimation Order – A Step-by-Step Guide for Taxpayers

An in-depth manual on Section 143(1) Intimation Orders, discussing the various types, adjustments, response methods, legal implications, and frequently asked questions to assist taxpayers in addressing discrepancies effectively.

Big Tax Change: No TCS Collection Under Section 206C(1H) from April 2025

Significant updates in TCS regulations: From April 1, 2025, Section 206C(1H) will be repealed. A comprehensive guide outlining the effects on sellers and buyers, necessary compliance actions, and required system modifications for businesses.

TDS on Residential Property Rent: Section 194IB Rules & Rate Change 2024

A comprehensive overview of Section 194IB TDS applicable to residential rental payments exceeding ₹50,000. Discusses the reduction in the tax rate from 5% to 2% starting October 2024, provides calculation examples for the fiscal year 2024-25, outlines the payment procedure using Form 26QC, and details the penalties involved.
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GST

GST Policy Updates (March 25–31, 2025): E-way Bill Tweaks & Compliance Changes

Dive into the most recent GST developments (from March 25th to March 31st, 2025), highlighting the increase in E-way Bill thresholds in Chhattisgarh, the CBIC’s reinforced compliance regulations, and the significant topics set for discussion at the GST Council meeting in April 2025. Ensure compliance with guidance from experts!